Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-09-07)

3800 bottomed out successfully, next target is 4300
1. Market trends
The current price of Bitcoin is 4,100 yuan. In the past two days, it has been in a state of small fluctuations and sideways trading, with a fluctuation range of 50 to 60 yuan. For friends who are accustomed to short-term operations, it is still a good volatility.
Last night, the price reached a high of around 4120. It was suppressed when it wanted to go up. From a technical point of view, the upper pressure is mainly concentrated in the 4300-4500 line. The sideways movement around 3800 for a month has formed a relatively good mid-line support. From a larger range, the price may oscillate in the range of 3900 to 4300, gradually digesting the upper locked-in orders and the negative impact of Bitfinex in this range. There is no good or bad news on the news.
From the data, the long and short index is relatively bullish, and the newcomer index has bottomed out and is relatively stable. The possibility of a sharp rise in the short term is not very high, but it is a good opportunity to intervene in the medium term. September and October are the golden months, and October or November may usher in another wave of impressive market conditions. In the short term, volatility will gradually improve, and it is a good time to buy low and sell high. In the past few days, the Bitcoin computing power has been close to 1700P for some time.
2. The long-short index shows the off-market recognition of the value of Bitcoin <br/>The chart shows the hourly long-short index.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.